Someone with a lot of money to spend has taken a bearish stance on Pioneer Natural Resources (NYSE:PXD).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PXD, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Pioneer Natural Resources.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $543,829, and 3 are calls, for a total amount of $184,950.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $210.0 to $270.0 for Pioneer Natural Resources over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Pioneer Natural Resources options trades today is 117.12 with a total volume of 755.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Pioneer Natural Resources's big money trades within a strike price range of $210.0 to $270.0 over the last 30 days.
Pioneer Natural Resources Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PXD | PUT | TRADE | BEARISH | 09/16/22 | $260.00 | $234.0K | 84 | 100 |
| PXD | CALL | SWEEP | BULLISH | 01/19/24 | $210.00 | $99.8K | 131 | 21 |
| PXD | PUT | TRADE | NEUTRAL | 09/16/22 | $255.00 | $86.0K | 39 | 42 |
| PXD | PUT | SWEEP | NEUTRAL | 10/21/22 | $270.00 | $60.9K | 0 | 27 |
| PXD | CALL | TRADE | NEUTRAL | 09/02/22 | $225.00 | $56.2K | 195 | 229 |
Where Is Pioneer Natural Resources Standing Right Now?
- With a volume of 1,843,486, the price of PXD is down -2.51% at $246.87.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 62 days.
What The Experts Say On Pioneer Natural Resources:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Pioneer Natural Resources, which currently sits at a price target of $267.
- Credit Suisse has decided to maintain their Outperform rating on Pioneer Natural Resources, which currently sits at a price target of $280.
- Mizuho has decided to maintain their Buy rating on Pioneer Natural Resources, which currently sits at a price target of $316.
- Barclays has decided to maintain their Overweight rating on Pioneer Natural Resources, which currently sits at a price target of $309.
- Truist Securities has decided to maintain their Hold rating on Pioneer Natural Resources, which currently sits at a price target of $240.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Pioneer Natural Resources, Benzinga Pro gives you real-time options trades alerts.
